World Research Journal of Entrepreneurship and Business

ISSN: 2320-5709 & E-ISSN: 2320-5717, Volume 1, Issue 1, 2012, pp.-08-15.

Available online at http://www.bioinfopublication.org/jouarchive.php?opt=&jouid=BPJ0000063

RETAIL ENTREPRENEURSHIP: A THEORETICAL FRAMEWORK FOR INDIAN RURAL RETAILING

MEHTA A.
Christ University, Hosur Road, Bangalore-560 029, Karnataka, India. *Corresponding Author: Email- mehta0108@gmail.com Received: September 25, 2012; Accepted: November 15, 2012 Abstract- A striking feature of India, and not just rural India, is the diverse and varied profiles of customers & consumers but every aspect of their lives from birth, to education, to marriage, to livelihood is influenced by the deeply imbedded Indian traditions & culture. Indian rural marketers & entrepreneurs have been able to understand, to identify and to utilize these cultural diversities and traditions. According to this years Global Retail Development Index India is positioned as the leading destination for retail investment. The rural retail sector in India is witnessing a huge revamping exercise as traditional markets make way for new formats such as departmental stores, hypermarkets, supermarkets and specialty stores along with fully customized services & products. Over the last two decades the state & central governments in India have been able to exercise far more independence in decision-making than in the pre-1980 period. This paper can be useful to rural entrepreneurs, rural retailers & academicians interested in getting insights of Indian rural retail industry for doing direct and indirect business in the Indian rural retail sector, This paper studied & proposed a theoretical framework for the changing paradigm of the Indian rural retail markets and suggests some ways in overcoming the roadblocks in Indian rural retailing. Keywords- Entrepreneurship, Indian SMEs, Marketing, Sales, Rural India, Rural Retail. Citation: Mehta A. (2012) Retail Entrepreneurship: A Theoretical Framework for Indian Rural Retailing. World Research Journal of Entrepreneurship and Business, ISSN: 2320-5709 & E-ISSN: 2320-5717, Volume 1, Issue 1, pp.-01-15. Copyright: Copyright2012 Mehta A. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution and reproduction in any medium, provided the original author and source are credited. Introduction By the year 2011, 1200 hypermarkets and 3000 supermarkets would function across India. Retail, which will be rapidly transforming the Indian landscape during this period, would be attracting an investment of as much as US $ 25 billion, more than 12 times that was invested during the last one decade. Most of this growth is estimated to come from greater than 1000 tier II towns of India. The McKinsey report (2007) on the rise on consumer market in India predicts that in twenty years the rural Indian market will be larger than the total consumer markets in countries such as South Korea or Canada today, and almost four times the size of todays urban Indian market and estimated the size of the rural market at $577 Billion. Many rural development efforts have focused on building high-growth venture capital businesses, while ignoring the needs of small retail and lifestyle operations that comprise a majority of rural businesses. Lifestyle business entrepreneurs typically start businesses to provide a source of income or to support a desired interest or lifestyle [53]. Although the number of independently owned, rural businesses has increased in the past 10 years, there is still a critical shortage of entrepreneurship in many rural communities [25]. Prof Ramkishen Y. In his book ' New Perspective in Rural and Agricultural Marketing: Case Studies' discusses through various case studies, product lifecycle of rural product and how they differ from urban products. He has also discussed standardization and grading systems in India and their relevance in rural markets.

Fig. 1- India Population Pyramid 2008-2020 The market research report The Indian Retail Sector - An Outlook (2005-2010) analyzes the greatly divided Indian retail market and the trends in its business. Issues such as foreign investment restrictions, modern merchandizing in India, logistics and payment terms for distribution, role of channel members and growth trends in different regions are discussed. The market research report further analyzes the sustainability of the Indian retail sector and on

World Research Journal of Entrepreneurship and Business ISSN: 2320-5709 & E-ISSN: 2320-5717, Volume 1, Issue 1, 2012 Bioinfo Publications 8

Retail Entrepreneurship: A Theoretical Framework for Indian Rural Retailing

the basis of 25 domestic and international companies the report has given a suitable business model. According to Rural Marketing Association of India (RMAI) and MART, the rural economy has not been impacted by the global economic slowdown that took place during the last two years. Infact the rural economy grew at a phenomenal 25% in 2008 when the demand in urban areas across the globe slowed because of the global meltdown. According to a white paper prepared by CII-Technopak fast moving consumer goods (FMCG) sales are up 23 per cent and telecom is growing at 13 per cent in the Indian rural areas. Retailers are found in most all US communities and the presence of a retail sector has been shown to be related to the well-being of local citizens. However, despite the retail sectors potentially important role in rural communities, rural development initiatives have not generally invested in the retail sector because dollars spent are likely to leak to large metropolitan areas where economic value is added, and the smaller the community the greater the leakage [31,59]. The Union Budget for 2010-11 has increased the allocation under the National Rural Employment Guarantee Act (NREGA) giving a further boost to the rural economy. With the initiation of various rural development programmes there have been an upsurge of employment opportunities for the rural poor. The steps taken by the Government of India to initiate proper irrigation, infrastructural developments, prevention of flood, grants for fertilizers, and various schemes to cut down the poverty line have improved the condition of the rural masses. Yet these are insufficient and inadequate as per the percentage of rural area and population. Literature Review An in-depth analysis on the telecom sector, conducted by Kurian and Tiyama brings out the sift if rural population towards use of technology and modern means of consumers. Handelman (1997) first introduced institutional theory as a framework for understanding retailers socially motivated institutional actions and their role in market strategy development. Arnold, Handelman and Tigert (1996) applied this theoretical perspective to organizational legitimacy and its association with retail store patronage. Arnold, Handelman, and Tigert (1996) discuss symbolic action from the retailer/ consumer perspective to include the symbolic characteristics instilled in a product or service such as social status or fashion level. The authors propose that symbolic action moderates performative action. Handelman and Arnold (1999) expanded this literature to provide an analysis of the role of socially motivated marketing actions within business institutions. As per current literature & knowledge, application of institutional theory in the context of small rural U.S. communities and in the task environment of local retailing is unique to the marketing, economic development and entrepreneurship literature. The nature of the retail sector, with retailers being employers, agents of change and places for social interaction suggests that it would play an important role in developing and maintaining the resiliency of a community. Community resilience, the ability of a community to adapt to change is reflected by a communitys social and cultural diversity, economic diversity, social infrastructure and amenity infrastructure. Striking features of Indian Retail At Subhiksha, 40 per cent of revenues and space come from cities that are not state capitals.

At Vishal Megamart, 80 per cent of revenues come from tier II and III cities. Around 70-75 per cent of visitors end up buying from retail outlets in smaller places, whereas, in large cities, it is around 50-55 per cent. Retail Operations in smaller cities result in extra 3 4 percent margin. To address the issue of the urban and rural gap and reaching to the rural masses can be addressed by falling back on the Bottom of the Pyramid (BOP) marketing strategies as advocated by Prahalad (2004) and the 4 As Availability, Affordability, Acceptability and Awareness [3,47]. The BOP marketing strategies basically talk about aggregating the demand of consumers who have low individual purchasing power and are spread out. The basic commercial infrastructure suggested by Prahalad and Hart (2002) for the bottom of the pyramid markets constitutes of four things, creating buying power, improving access, tailoring local solutions and shaping aspirations.

Fig. 2- Share of Modern & Traditional Retail in India Table 1- Total Numbers of Retail Outlets in Selected Countries
Country 2002 2003 2004 2005 2006 2007 India 11,689.00 12,049.80 12,408.80 12,770.80 13,122.10 13,448.50 China 5463.7 5208.1 4854.1 4635.7 4503.2 4496.3 Brazil 976.1 1006.6 1071.5 1122.9 1157.6 1188.3 Russia 437.5 447.4 456.3 466 475.1 480.8 USA 923.5 923.7 934.3 945.8 946.5 946.2 UK 314.6 312 308.3 302.1 298.3 295.1 France 416.9 411.7 409.2 407.1 406.7 406.5 Germany 288 286.2 284.2 283 281.8 281.8

Fig. 3- Retail Trade in India

World Research Journal of Entrepreneurship and Business ISSN: 2320-5709 & E-ISSN: 2320-5717, Volume 1, Issue 1, 2012 Bioinfo Publications 9

Mehta A.

Fig. 4- India Retail Market Growth

Fig. 8- The Rural & Semi-Urban Market Size Availability, is about making the product reach the consumers and in the case of telecom services studies have shown this to be the biggest barrier to be overcome [3]. It has been acknowledged by many that distribution systems are the most critical component and a barrier which needs to be overcome [62] for success in marketing in rural areas. The task of distribution in these areas is considered to be more difficult than in urban areas [8], low density of population and inaccessibility makes the problem of servicing villages individually difficult and often uneconomical. Direct delivery of goods even to the top one percent of villages cost twice as much as servicing urban markets [30]. Farm activity means agricultural activity and non-farm activity is used synonymously with nonagricultural activity. There are two alternative approaches to define rural-non-farm activities [70]. The first is the locative approach in which the primary criterion is that a RNF activity is performed in a location which falls within a designated rural area. The second is based on the linkage approach where an industrial enterprise generates significant development linkages with the rural areas. For purposes of this study we are using the first. Rural-Non-FarmSector (RNFS) includes all economic activities viz., household and non-household manufacturing, handicrafts, processing, repairs, construction, mining and quarrying, transport, trade, communication, community and personal services etc. in rural areas. RuralNon-Farm-Activities (RNFAs), thus, play an important role to provide supplementary employment to small and marginal farm households, reduce income inequalities and rural-urban migration. Though, agricultural sector has played a very significant role for generation of rural employment in the Asia and Pacific region, its contribution to the overall economy has greatly reduced in the recent past. According to the NCAER Rural Infrastructure Report (2007), the demand for telecommunication services are surging across rural India, as middle class and upper classes are growing in most villages but the tele-denisty levels are very low 1.67 per 100 residents compared with average of 8.59 overall and 25.90 in Indian cities. The second challenge is from the low purchasing power and limited disposable incomes in these parts of the country. But this has been changing in the last few decades with agricultural growth rate faster in the 1990s and 80s than the 1970s. Green revolution through the introduction of hybrid seeds, fertilizers and systematic irrigation had a major impact on agricultural productivity, and combined with it was a price policy which ensured minimum support price, and in turn insulated the farmers from market risk, cheap input policy and a stable demand [81]. These all lead to

Fig. 5- India Agriculture & Non-Agriculture Sector

Fig. 6- Sales Growth of FMCG Players: Historical Analysis

Fig. 7- Rural India FMCG Growth

World Research Journal of Entrepreneurship and Business ISSN: 2320-5709 & E-ISSN: 2320-5717, Volume 1, Issue 1, 2012 Bioinfo Publications 10

Retail Entrepreneurship: A Theoretical Framework for Indian Rural Retailing

a quantum jump in the incomes of farmers in the country. Initially the impact of green revolution could be seen only in the prosperous agricultural states of the country but now slowly its influence has spread across the country with the increase in irrigation. Non-farm activities either keep the poor falling into deeper poverty or are advantageous in lifting the poor above the poverty line. Keeping this in view, it becomes imperative to identify the strengths and weaknesses of the non-farm sector in India to focus on, in order to alleviate poverty. The strengths and weaknesses of rural non-farm sector in India as highlighted by Mukherjee and Zhang (2005) have been discussed below. The most significant bottleneck in generating higher levels of rural nonfarm activity in India is the quantity, quality and reliability of infrastructure. For example, the World Bank Investment Climate Survey for India indicates that power outages were one of the most serious obstacles to the development of the nonfarm sector. Although corrective steps are now being taken, increased infrastructure remains the most important priority for the future. To achieve a sustained growth rate of 8-9 percent, the investment rate has to be stepped up from the current level of 24 percent to nearly 35 percent over the next decade, with investment directed at the rural sector. The characteristics of the rural areas, low population density and spread out population, difficult topographical and climatic conditions make it difficult to provide telecommunication service of acceptable quality by traditional means at affordable prices. But with the development of new appropriate technology like wireless technologies have been accepted that it is possible to overcome these difficulties. Wireless technology has been proposed to be the first viable infrastructure to rural and underdeveloped areas have therefore recommended that villages near a larger town can take advantage of the fiber backbone; a remote village can be connected via VSAT link. From the fiber backbone, a point-to-point or point-to multipoint WiMAX link can be used to connect one or more villages near the town, thus enabling WiMAX to distribute locally among all rural community groups in a given village using long distance Wi-Fi technology The technology angle to providing telecom services has been not been given much attention as it has been written on by many authors and the focus of the current paper is marketing issues related to marketing if telecom services. In the rural areas, lack of education leads to labor being stagnant in agriculture, or moving to casual work occupations in the nonfarm sector, and not to salaried employment with higher wages and benefits. Together with lack of technical skills, there is little incentive for rural firms to invest in technology, leading to low levels of labor productivity in the rural manufacturing sector compared to urban manufacturing. It is not true that only cheap brands sell in rural markets. Usha found that the sale of its economy models was falling sharply in rural areas. Farmers prefer Usha's premier Century brand, though it is priced 20 per cent higher. Regulation of the small-scale sector constitutes an important aspect of nonfarm development policy in India. In the initial stages, capital investment restrictions were imposed to protect the smallscale sector, especially in rural areas, from predation by large industry. Reservation of products for the sector was initiated to create a domestic market and quantitative restrictions imposed to protect them from competition from imports. At the end of the 1990s, however, these very policies have become detrimental to

the dynamism of the small-scale sector, especially in the rural areas. Capital investment limits have discouraged economies of scale, and concessions offered to small industry have created adverse incentives against re-investment. Several official reports have recommended a substantial increase in the capital investment limit (from the present level of around $200,000) to make better use of technology and improve productivity. The pricing issue is closely related to issues of positioning and packaging. As competition in rural markets is generally with the unorganized sector or against a product category, price is a critical factor in consumer choice. In rural markets, low price alone is not sufficient. The price has to be convenient for both the consumer and the retailer. The absolute amount is important. Prices of Rs. 1, Rs. 2 and Rs. 5 are favored but not Rs. 3, 6, 7 and 9. Cadbury's chocolate at Rs 6 and Relish at Rs 3 did not succeed and had to be withdrawn. To maintain the absolute price, it may make sense to decrease volume instead of increasing price. The absolute amount is more important than the contents. Proposed A to Z Theoretical Framework for Indian Rural Retailing 1. 4 As of Indian Rural Retailing....... Accountability & Agency Theory, Accessibility & Adoptability Advertizing & Awareness Affinity Marketing & Empathy, 2. 4 Bs of Indian Rural Retailing...... Branding & Commitment, Behavior and Attitude Benchmarking &, Business Intelligence & Business Process Management 3. 4 Cs of Indian Rural Retailing....... Communication, Coordination & Cooperation Controlling, Cost Engineering, Competency Building & Skills Development 4. 4 Ds of Indian Rural Retailing...... Decentralization, Diversity, Dedication, Decision Making 5. 4 Es of Indian Rural Retailing..... Efficiency & Effectiveness Employment Enthusiasm Entrepreneurship, Environment 6. 4 Fs of Indian Rural Retailing..... Feedback,

World Research Journal of Entrepreneurship and Business ISSN: 2320-5709 & E-ISSN: 2320-5717, Volume 1, Issue 1, 2012 Bioinfo Publications 11

Retail Entrepreneurship: A Theoretical Framework for Indian Rural Retailing

Forecasting, Feasibility &Flexibility Focus 7. 4 Gs of Indian Rural Retailing.... Goodwill, Guarantee, Globalization, Grievances, 8. 4 Hs of Indian Rural Retailing.... Health, Safety & Security Honesty, Morale & Ethics, Human Resource, Horizon Scanning 9. 4 Is of Indian Rural Retailing..... Integrality, Intermediaries & Institutionalization Innovation & ideas, Input & Infrastructure, Information & Internet 10. 4 Js of Indian Rural Retailing... Just-in-time (JIT) Joint Venture Joint Demand Judo Strategy 11. 4 Ks of Indian Rural Retailing... Knowledge & Kickoff meetings, Kotlers six marketing audits Key Account Management (KAM) Key Success Factors (KSF) 12. 4 Ls of Indian Rural Retailing.... Loyalty & Retention, Leadership, Liberalization & Local Language/Culture Learning & Education 13. 4 Ms of Indian Rural Retailing.... Motivation, Management, Mission, Media Marketing 14. 4 Ns of Indian Rural Retailing.... Networking & Nero Marketing, Negotiation, Nature(Green Management), Niche Marketing 15. 4 Os of Indian Rural Retailing....

Opportunity, Organizational Development & Change (ODC), Objectives, Output 16. 4 Ps of Indian Rural Retailing.... Policy & Strategy, Product, Pricing, Place & Promotions Participations & Performance , Packaging & Segmentation 17. 4 Qs of Indian Rural Retailing.... Quality, Quantity, Quotation, Qualitative & Quantitative Research 18. 4 Rs of Indian Rural Retailing.... Revenue & Profitability, Relationship Marketing Resource & Risk Management, Rural Culture & Response Rate 19. 4 Ss of Indian Rural Retailing..... Standardization & Six Sigma, Specialization, Simplification & System Development Life Cycle (SDLC), Sensitivity & Socialization 20. 4 Ts of Indian Rural Retailing..... Technology, Training, Team Work, Targeting & Test Marketing 21. 4 Us of Indian Rural Retailing..... Unity, Unique Selling Proposition (USP), Unique Users URL (Uniform Resource Locator), an HTTP 22. 4 Vs of Indian Rural Retailing..... Values, Vision, Village & Value Engineering Viral Marketing 23. 4 Ws of Indian Rural Retailing.... Welfare & Warranty, WBS (Work Breakdown Structure) Wisdom & Wants, Word of Mouth & Wow factor

World Research Journal of Entrepreneurship and Business ISSN: 2320-5709 & E-ISSN: 2320-5717, Volume 1, Issue 1, 2012 Bioinfo Publications 12

Retail Entrepreneurship: A Theoretical Framework for Indian Rural Retailing

24. 4 Xs of Indian Rural Retailing.... X-Efficiency Xenology Xylography X Theory 25. 4 Ys of Indian Rural Retailing.... Yield & ROI, Youth Market Y Tree Y Theory 26. 4 Zs of Indian Rural Retailing..... Zero Base Budgeting & Zero Base Accounting Zero Defect Policy Zero Sum Game Z- Score & Z Theory Conclusion In order to assess the impact of growing organized retail on different aspects of the economy, the Indian Council for Research on International Economic Relations (ICRIER) was appointed in 2 by the Ministry of Commerce and Industry, Government of India to carry out a study on organized retail focusing on the following issues: Effect on small retailers and vendors in the unorganized sector keeping in mind the likely growth in the overall market. Effect on employment. Impact on consumers. Impact on farmers and manufacturers. Impact on prices. Overall impact on economic growth. Indian Council for Research on International Economic Relations (ICRIER) has been asked by the Ministry to analyze the above issues in the context of a growth scenario of 7-10 per cent per annum in the next five years and in the light of practice in other fastgrowing emerging market economies. A recent Stanford Research Institute study suggests rural communities have several strengths including low cost of doing business, high quality of life, ongoing improvement of education, and growing levels of entrepreneurship and small business development. The U.S. Small Business Administrations Office of Advocacy recognizes that thriving small businesses and associated lifestyle amenities are the nucleus of sustainable rural communities. In a retail business setting, performative actions could be a range of behaviors aimed at enhancing business performance such as competitive strategies, marketing strategies, management strategies, business leadership behaviors, and a host of related actions. In contrast, institutional actions reflect strong and established rules of acceptable social conduct. For rural businesses this could include behaviors such as community support, community involvement, and community pride and commit-

ment [42]. Some rural communities have effectively refocused and adapted to the internal and external pressures of the last few decades. These communities have responded to adversity quickly, and in doing so, protected the economic and social well being of residents [49]. Rainey, Robinson, Allen, and Christy (2003) emphasize that effective rural economic development programs must enable communities to understand global economic forces, analyze their problems, and identify opportunities. They further suggest using local residents as resources to organize and become involved in community problem solving. Rural communities must look for ways to create synergies and enhance collaborative efforts. These observations parallel state level issues and needs identified throughout rural America. Economic development initiatives highlight needs for entrepreneurial development and the creation and retention of jobs and businesses. Iowa, for example, is continually seeking ways to develop and enhance the economic climate of its rural communities in the face of agricultural and global market change. Today the rural market offers a vast untapped potential. Development programs in the field of agriculture and related activities such as health, retailing, education, communication, rural electrification, etc have improved the lifestyles of village population. Rural India, which accounts for more than 70 per cent of the country's one billion population (according to the Census of India 2001), is not just witnessing an increase in its income but also in consumption and production. References [1] Abbott J.C. (1967) Agricultural Development and Economic Growth, Ithaca: Cornell University Press, 364-399. [2] Nielsen A.C. (2007) Report to the World Bank/Indonesia. [3] Anderson James and Biliou N. (2007) Journal of Business Strategy, 28(2). [4] Anupindi R. and Ravikumar S. (2005) Business Solutions for Alleviating Poverty Conference, Harvard Business School. [5] Arathoon Marion (1999) Brand Equity. [6] Arnold S., Handelman J. and Tigert D. (1996) Journal of Business Research, 35, 229-239. [7] Assisi Charles and Gupta Indrajit (2003) Business World. [8] Balakrishnan Mandira (1977) Decision, 177-184. [9] Banerjee Gargi (2006) Business World. [10] Beaverland M. and Luxton S. (2005) Journal of Advertising, 34 (4), 103-116. [11] Berdegu J.A., Balsevich F., Flores L., Reardon T. (2005) Food Policy, 30(3), 254-269. [12] Beshouri (2006) McKinsey Quarterly, 4. [13] Besser T., Agnitsch K. and Friestad J. (2005) Sociological Research Briefs, Iowa State University. [14] Bhatnagar S. (2000) India Telecom Conference, Stanford. [15] Prahalad C.K. and Stuart L. Hart (2002) Strategy and Business, (26). [16] Prahalad C.K. (2005) Wharton School Publishing.

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Retail Entrepreneurship: A Theoretical Framework for Indian Rural Retailing

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